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D. R. Horton（DHI）与哈特福德（HIG）财务数据对比。点击上方公司名可切换其他公司
D. R. Horton的季度营收约是哈特福德的1.7倍（$6.9B vs $4.1B），哈特福德净利率更高（13.2% vs 8.6%，领先4.5%），D. R. Horton同比增速更快（-9.5% vs -43.7%），过去两年D. R. Horton的营收复合增速更高（-13.0% vs -20.8%）
D.R.霍顿是总部位于美国得克萨斯州阿灵顿的住宅建造企业，自2002年起持续成为美国交付量最高的住宅建筑商，业务覆盖全美36个州的125个市场，2024年按营收规模位列《财富》美国500强榜单第120位。
哈特福德（The Hartford）是美国头部保险企业，位列2024年《财富》世界500强第162位，总部位于康涅狄格州哈特福德市。集团拥有200余年行业经验，在财产意外险、员工福利及共同基金领域处于领先地位，凭借优质服务、可持续运营与诚信经营广受认可。
DHI vs HIG — 直观对比
营收规模更大
DHI
是对方的1.7倍
$4.1B
营收增速更快
DHI
高出34.1%
-43.7%
净利率更高
HIG
高出4.5%
8.6%
两年增速更快
DHI
近两年复合增速
-20.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.9B | $4.1B |
| 净利润 | $594.8M | $536.0M |
| 毛利率 | 23.2% | — |
| 营业利润率 | — | — |
| 净利率 | 8.6% | 13.2% |
| 营收同比 | -9.5% | -43.7% |
| 净利润同比 | -29.6% | 12.0% |
| 每股收益（稀释后） | $2.03 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DHIHIG
| Q1 26 | — | $4.1B | ||
| Q4 25 | $6.9B | $7.3B | ||
| Q3 25 | $9.7B | $7.2B | ||
| Q2 25 | $9.2B | $7.0B | ||
| Q1 25 | $7.7B | $6.8B | ||
| Q4 24 | $7.6B | $6.9B | ||
| Q3 24 | $10.0B | $6.8B | ||
| Q2 24 | $10.0B | $6.5B |
净利润DHIHIG
| Q1 26 | — | $536.0M | ||
| Q4 25 | $594.8M | — | ||
| Q3 25 | $905.3M | $1.1B | ||
| Q2 25 | $1.0B | $995.0M | ||
| Q1 25 | $810.4M | $630.0M | ||
| Q4 24 | $844.9M | — | ||
| Q3 24 | $1.3B | $767.0M | ||
| Q2 24 | $1.4B | $738.0M |
毛利率DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | 23.2% | — | ||
| Q3 25 | 21.7% | — | ||
| Q2 25 | 23.9% | — | ||
| Q1 25 | 24.6% | — | ||
| Q4 24 | 25.1% | — | ||
| Q3 24 | 25.5% | — | ||
| Q2 24 | 26.5% | — |
营业利润率DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | — | 19.3% | ||
| Q3 25 | 12.4% | 18.2% | ||
| Q2 25 | 14.7% | 17.8% | ||
| Q1 25 | 13.8% | 11.5% | ||
| Q4 24 | 14.6% | 15.6% | ||
| Q3 24 | 17.1% | 14.1% | ||
| Q2 24 | 18.1% | 14.1% |
净利率DHIHIG
| Q1 26 | — | 13.2% | ||
| Q4 25 | 8.6% | — | ||
| Q3 25 | 9.4% | 14.9% | ||
| Q2 25 | 11.1% | 14.2% | ||
| Q1 25 | 10.5% | 9.3% | ||
| Q4 24 | 11.1% | — | ||
| Q3 24 | 12.8% | 11.4% | ||
| Q2 24 | 13.6% | 11.4% |
每股收益（稀释后）DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | $2.03 | $3.96 | ||
| Q3 25 | $3.02 | $3.77 | ||
| Q2 25 | $3.36 | $3.44 | ||
| Q1 25 | $2.58 | $2.15 | ||
| Q4 24 | $2.61 | $2.88 | ||
| Q3 24 | $3.90 | $2.56 | ||
| Q2 24 | $4.10 | $2.44 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.5B | $1.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $24.0B | $16.8M |
| 总资产 | $34.6B | $86.3M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DHIHIG
| Q1 26 | — | $1.7M | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $3.0B | — |
总债务DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $4.4B |
股东权益DHIHIG
| Q1 26 | — | $16.8M | ||
| Q4 25 | $24.0B | $19.0B | ||
| Q3 25 | $24.2B | $18.4B | ||
| Q2 25 | $24.1B | $17.5B | ||
| Q1 25 | $24.3B | $16.8B | ||
| Q4 24 | $24.9B | $16.4B | ||
| Q3 24 | $25.3B | $17.0B | ||
| Q2 24 | $24.7B | $15.7B |
总资产DHIHIG
| Q1 26 | — | $86.3M | ||
| Q4 25 | $34.6B | $86.0B | ||
| Q3 25 | $35.5B | $85.0B | ||
| Q2 25 | $36.4B | $83.6B | ||
| Q1 25 | $35.7B | $82.3B | ||
| Q4 24 | $35.0B | $80.9B | ||
| Q3 24 | $36.1B | $81.2B | ||
| Q2 24 | $35.2B | $79.0B |
负债/权益比DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | — | 0.23× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.28× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $854.0M | — |
| 自由现金流经营现金流 - 资本支出 | $826.6M | — |
| 自由现金流率自由现金流/营收 | 12.0% | — |
| 资本支出强度资本支出/营收 | 0.4% | — |
| 现金转化率经营现金流/净利润 | 1.44× | — |
| 过去12个月自由现金流最近4个季度 | $3.5B | — |
8季度趋势，按日历期对齐
经营现金流DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | $854.0M | $5.9B | ||
| Q3 25 | $2.5B | $1.8B | ||
| Q2 25 | $738.6M | $1.3B | ||
| Q1 25 | $-436.2M | $985.0M | ||
| Q4 24 | $646.7M | $5.9B | ||
| Q3 24 | $2.0B | $1.7B | ||
| Q2 24 | $698.3M | $1.3B |
自由现金流DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | $826.6M | $5.8B | ||
| Q3 25 | $2.4B | $1.8B | ||
| Q2 25 | $692.6M | $1.3B | ||
| Q1 25 | $-470.5M | $947.0M | ||
| Q4 24 | $633.4M | $5.8B | ||
| Q3 24 | $1.9B | $1.6B | ||
| Q2 24 | $636.3M | $1.2B |
自由现金流率DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 78.4% | ||
| Q3 25 | 25.1% | 24.8% | ||
| Q2 25 | 7.5% | 17.9% | ||
| Q1 25 | -6.1% | 13.9% | ||
| Q4 24 | 8.3% | 83.8% | ||
| Q3 24 | 19.3% | 24.0% | ||
| Q2 24 | 6.4% | 18.5% |
资本支出强度DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 2.3% | ||
| Q3 25 | 0.5% | 0.6% | ||
| Q2 25 | 0.5% | 0.6% | ||
| Q1 25 | 0.4% | 0.6% | ||
| Q4 24 | 0.2% | 2.1% | ||
| Q3 24 | 0.3% | 0.9% | ||
| Q2 24 | 0.6% | 0.9% |
现金转化率DHIHIG
| Q1 26 | — | — | ||
| Q4 25 | 1.44× | — | ||
| Q3 25 | 2.73× | 1.70× | ||
| Q2 25 | 0.72× | 1.30× | ||
| Q1 25 | -0.54× | 1.56× | ||
| Q4 24 | 0.77× | — | ||
| Q3 24 | 1.53× | 2.19× | ||
| Q2 24 | 0.52× | 1.71× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
DHI
| Home Building Ops | $6.5B | 95% |
| Eliminations And Other | $209.1M | 3% |
| Financial Services | $184.6M | 3% |
| Land | $16.2M | 0% |
HIG
| Earned premiums | $3.6B | 88% |
| Other | $486.0M | 12% |
| Fee income | $12.0M | 0% |
